B: FDA Approves Summit Technology's Apex Plus Excimer Laser Workstation for
Treatment of Hyperopia
WALTHAM, Mass., Oct 21, 1999 (BW HealthWire) -- Summit Technology,
Inc. (NASDAQ:BEAM) announced today that the U.S. Food and Drug
Administration (FDA) has approved the Company's Apex Plus Excimer Laser
Workstation for the treatment of hyperopia. The approval is for
hyperopic photorefractive keratectomy (PRK) in the range of +1.5D to
+4.0D of hyperopia, with less than 1.0D of astigmatism.
"Having a broad range of FDA approvals is a key element of our strategy,
" stated Robert J. Palmisano, Chief Executive Officer of Summit
Technology. "With this additional FDA approval, we have extended the
range of treatment options available to Summit ophthalmologists and
their patients and leveled the playing field in this industry," he
concluded.
Founded in 1985, Summit Technology is a leading developer, manufacturer
and marketer of ophthalmic laser systems and related products designed
to correct common vision disorders such as nearsightedness,
farsightedness and astigmatism. In 1995, Summit was the first excimer
laser company to receive FDA approval for its excimer laser system for
the correction of mild to moderate myopia in the U.S. Autonomous, a
wholly owned subsidiary, is engaged in the design and development of
next-generation excimer laser instruments for laser refractive surgery.
The Company's LADARVision System combines laser radar eye tracking with
narrow beam shaping technology. In addition, through its wholly owned
subsidiary, Lens Express, Summit sells contact lenses and related
products.
Cautionary Statement under "Safe harbor" Provisions of the Private
Securities Litigation Reform Act of 1995: Statements made in this news
release contain information about the Company's future business
prospects. These statements may be considered "forward looking". These
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those set forth in or implied
by such forward looking statements. Among these risks and uncertainties
are: competition from other manufacturers and vision correction
technologies, delays in obtaining regulatory approvals, challenges to
patents owned and licensed by the Company affecting per procedure
revenues, adverse litigation results, difficulties in commercializing
the LADARVision system and dependence on sole source suppliers. For
additional information and risks associated with the Company's business
prospects and future operating results, please refer to Summit's public
filings with the Securities and Exchange Commission.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: Summit Technology, Inc.
Kate Sturgis Burnham, 781-672-0517
kate.burnham@sum-tech.com
WEB PAGE: businesswire.com
GEOGRAPHY: MASSACHUSETTS
INDUSTRY CODE: BIOTECHNOLOGY
TELECOMMUNICATIONS
MEDICAL
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page. |
